Corelogic Just Acquired Alamode

[hastalavista]

Does USPAP address the implications of knowingly using a software provider that data mines our reports of confidential information? Don't we have a responsibility to protect confidential info?

Its addressed in Fannie/Freddie's pre-printed certification (#21). The client is free to distribute the report to "...data collection or reporting services."

Anytime you've signed a 1004 report, you've acknowledged that.

So, if you work for Corelogic as an appraiser, and you use their software, and the client agrees to let Corelogic use the data, that's compliant with the USPAP and the signed certification (as it exists today).

 

[Deleted member 139442]

Its addressed in Fannie/Freddie's pre-printed certification (#21). The client is free to distribute the report to "...data collection or reporting services."

Anytime you've signed a 1004 report, you've acknowledged that.

So, if you work for Corelogic as an appraiser, and you use their software, and the client agrees to let Corelogic use the data, that's compliant with the USPAP and the signed certification (as it exists today).

So work for corelogic and its subsidiaries is covered. But for the hundreds of other clients, we would be disclosing confidential information if we knowingly give corelogic our data. If they steal it, class action lawsuit.

 

[Rocky777]

Extrapolating market statistics would be more accurate if you could use appraisal data over MLS data, I feel that would give them the competitive edge over zillow, facebook and soon amazon going forward. I think the important thing is protecting our data from large companies using it. Appraisers should take precautions in protecting data like putting watermarks on photos.

 

[hastalavista]

So work for corelogic and its subsidiaries is covered. But for the hundreds of other clients, we would be disclosing confidential information if we knowingly give corelogic our data. If they steal it, class action lawsuit.

Not sure how Corelogic would get the data on the present ala mode platform if one isn't working for Corelogic.
Certainly, the opportunity would be there if the report-writing process was moved to the cloud (which I think is a certainty).
I would guess (but it is a guess) that any reports delivered via a portal owned by Corelogic already has data mining in the agreement with the end-user.
But, if Corelogic did not have permission from a client to mine the data and if Corelogic mined data on reports they were not authorized to mine, then yes, that would be a problem for Corelogic (not for the appraiser; they stealing the data doesn't constitute a confidentiality-violation by me).

I think it is easier to work the data-mining language into any portal delivery system they use with the end-user than taking a risk stealing the data in an unauthorized manner. But that doesn't mean someone won't do something stupid.

 

[djd09]

One World Appraising.

 

[Ahhhh Yeahhhh]

Will CoreLogic have access to my appraisal data?
Answer:

a la mode, as part of CoreLogic, will continue to honor the product licensing agreement which outlines how we treat the data. We will continue to treat data securely and notify you to get your explicit agreement if something changes.


This is from the FAQ.

first question...sounds like access to the data is possible but prevented by the product licensing agreement. Going forward there might be a change in the product licensing agreement as indicated by this FAQ. I imagine when Titan rolls out and everything is web-based, there will be a check box that you have to agree to to sign in and access your forms. From there all of your data both current and historic will be immediately transferred to corelogic.

I suspect that alamode will phase out the current platform once titan is rolling. This may take a year or two, but nevertheless its going to happen. If it wasn't going to happen, the FAQ wouldn't have included the second sentence.

 

[Deleted member 128537]

I got to thinking (which sometimes surprises me.). This is may be why Titan is taking so long. Alamode knew this was going to happen so they slow walked Titan to let Corelogic pay for the expense of development and marketing. I do think that Corelogic wouldn’t invest in Alamode unless they saw something that would give them $ in return. I don’t have any idea what that could be, but my guess is cloud computing and cloud databases. Just thinking out loud.

 

[Ahhhh Yeahhhh]

I don't think it has anything to do with Titan taking a long time to develop. I think it has everything to do with control.

The already control the workflow from two major banks.. Wells Fargo and BOA. They control the largest two portals FNC and Mercury.

Just wait... They will try tie access to mercury and FNC to alamode appraisers only which will force other appraisers to either join alamode or not get work from FNC/Mercury. Next, appraisers doing business for any of the AMC's that corelogic controls will be forced to use alamode (ahem given preferential assignments for using the alamode pluggin). Then once the user base of alamode is bigger and access to the major players is restricted to alamode users then the check box will appear. The checkbox will be your acknowledgement that using the titan platform allows corelogic access to the subject data within the report to be used for data validation and aggregation for their other valuation solutions.... You know.. to help appraisers have the best data available.... All while filling their AVM with the best data possible to use against us.

BOA and WELLS will have access to the best AVM data and will be able to under cut other lenders by $500-700 in loan charges which will increase their market share.

Sure... Corelogic isn't looking to kill off appraisers, they just want to increase market share. They are playing chess and lining up all the pieces... alamode is just another piece. They used to have control of ACI, but that company didn't have nearly the market share of alamode so it was basically useless.

Notice how corelogic only buys winners with big market share? Thats why they got alamode. They can probably pick ACI up for nothing due to its connection with first american..

I don't think corelogic or alamode anticipated the backlash from appraisers though.

 

[djd09]

Don't forget they are members of REVAA, CRN, and IAC.

They will help write the rules to fill in their forms for their AMCs.

 

[TRESinc]

But, if Corelogic did not have permission from a client to mine the data and if Corelogic mined data on reports they were not authorized to mine, then yes, that would be a problem for Corelogic (not for the appraiser; they stealing the data doesn't constitute a confidentiality-violation by me).

i'm a gambling man. i'll give 3-1 odds with a $10,000 bet and a 1 year time frame this scenario never comes to life.

love ya denis

From there all of your data both current and historic will be immediately transferred to corelogic.

no clue how they would get historic data. i haven't used alamode in over 5 years but i had 15+ years of appraisals with them and i can't imagine the time it would take to upload each one.

I suspect that alamode will phase out the current platform once titan is rolling. This may take a year or two, but nevertheless its going to happen. If it wasn't going to happen, the FAQ wouldn't have included the second sentence.

they phase out every old version when it gets replaced by the new one. it's been happening since the DOS days back when i started. i don't know the time line they have used in the past but i believe they still supported the older version for longer than 2 years. i'm sure someone has the dates on here.

to be honest i wouldn't be surprised if they extended the time. moving from what we have now to cloud forms is going to be a big hurdle for a lot of people. not everyone has the same level of computer knowledge/comfort and lots of people are just plain scared of "the cloud"